Vivid Doors The average house price in the UK now stands at £229,431 and in the US it’s around $226,800. This got us wondering, what would a similar amount (say $250k) buy you in some iconic capital cities around the world? Would your money trade your current house up or down if you bought property elsewhere? And what would it be like to live there?
N.B. Property is varied, and prices can fluctuate. The graphic below is based on a representation of what could be found for sale in August 2019, taking current exchange rates into account.
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Paris, France
Buying property in Paris seems particularly expensive at the moment. Round it to €275k and you’d be lucky to get half a 1 bedroom apartment.
What are the Benefits of Living There?
- There’s a good work/life balance
- Generous childcare & family allowances
- Plenty of green space
- Great culture, food & architecture
Living in Paris earns you a healthy average salary of around $53,432 pa, but this still leaves it difficult for the average resident to get on to the property ladder.
London, U.K.
House prices in London are notoriously high, so Brits come to expect that the average property price for the rest of the country won’t buy them much in the capital. In fact, it buys basically, nothing. A 1 bed flat or maisonette in South London is all we could find available at this price.
What are the Benefits of Living There?
- Excellent public transport
- Good healthcare
- Varied job opportunities
- Culture & History
If you love the hustle and bustle, London is a great place to live. The average salary is fairly healthy, at $42,968 pa but just like Paris, it doesn’t make it easy for the average worker to buy.
Berlin, Germany
Compared to the European cities we’ve looked at so far, Berlin is similar, providing buyers with 1 bed/studio apartments for $250k.
What are the Benefits of Living There?
- Cosmopolitan, with a young student population
- Laidback lifestyle
- Good nightlife
- Affordable cost of living
The average salary is $51,447 pa, which is higher than in London.
Washington, D.C., U.S.
Just like the European capitals so far, Washington D.C’s property is quite expensive. You can bag a 1-2 bedroom apartment or Condo for $250k.
What are the Benefits of Living There?
- Temperate climate
- Culturally diverse
- Plenty of green space
- Lots to do
The difference here is the average salary in Washington is $70,891 pa, which helps to balance the cost of property for residents.
Bangkok, Thailand
You’ll get a little more luxury when buying in Bangkok. $250 will still only afford a 1-2 bedroom apartment, but this is likely to be situated in a condo with luxury facilities like a pool or gym.
What are the Benefits of Living There?
- Sunshine all year round
- Friendly people
- Good food
- Low cost of living
- Eclectic nightlife
The cost of living in Bangkok is really affordable, good food is cheap and eating out is common. The average salary isn’t high at $27,064 pa, which is probably why $250k will buy you a taste of luxury even if you don’t get a large number of rooms.
Budapest, Hungary
There seems to be a mismatch when we arrive at Budapest. $250k also tends to buy a 2 bedroom flat/apartment on average.
What are the Benefits of Living There?
- Affordable cost of living
- Good food
- Good public transport
- Good schools
What’s really interesting is the average salary is just $9,218 pa. Recent statistics suggest a price hike in Hungary of 11.3%. Budapest itself has also just experienced the highest growth in house prices around the world, increasing 23% in the last quarter of 2018. Wage growth clearly hasn’t followed suit.
Nairobi, Kenya
Similar to Budapest, buying a property in Nairobi sounds like tricky business for residents. $250k will get you a 2 to 3 bedroom apartment.
Benefits of Living There?
- Temperate Climate
- Good outdoor living
- Rich culture
- Great food
The average salary is just $8,051 pa so there’s a need for affordable housing in the Kenyan capital.
Madrid, Spain
When you reach Madrid, you’ll get slightly more bedrooms for your money. A 1-3 bed apartment or flat is average for the amount.
What are the Benefits of Living There?
- Excellent public transport
- Affordable cost of living
- Great nightlife
- Good food
The average salary in Madrid isn’t bad either, at $41,485 pa.
Rio De Janeiro, Brazil
A 3-bed apartment can be purchased for around 250k in the Brazilian capital, Rio de Janeiro.
What are the Benefits of Living There?
- Outdoor living
- Plenty of sunshine
- Vibrant communities
- Good nightlife
The average salary in Rio is pretty tasty too, at $54,779 pa.
Tokyo, Japan
In Tokyo, you’ll be able to buy a 3 bedroom apartment or house for $250k.
What are the Benefits of Living There?
- Good education
- Cleanliness
- Great medical care
- Low crime rate
- Good public transport
This energetic, well-ordered and safe city is an exciting place to live. The average salary is a fairly healthy $49,786 pa.
New Delhi, India
Just like Bangkok, you’ll get some luxury for your money in New Delhi. Expect $250K to buy you a 3 bed flat or apartment with luxury facilities like a pool or a gym.
What are the Benefits of Living There?
- Great food
- Vibrant and busy
- Good shopping
- Hidden gems of history & architecture
- Rich & unique culture
New Delhi is a vibrant and exciting place to live and there’s nowhere quite like it! The average salary is just $7,098 pa which is why $250k will buy quite a lot in this city.
Wellington, New Zealand
If you don’t fancy apartment living, you can find a 2 bedroom house available in NZ’s capital, Wellington.
What are the Benefits of Living There?
- Stunning scenery
- Lots to do
- Good food
- Small town feel
- Wildlife
Here, you can combine city living with the feeling of a small town and a taste of the great outdoors. The average salary is around $39,241 pa.
Canberra, Australia
Venture out into the Canberra suburbs and $250k will buy you a 2-3 bed townhouse.
What are the Benefits of Living There?
- Little traffic congestion
- Young & vibrant student scene
- Good food
- Thriving nightlife
The Aussies have a laid back way of life that you can enjoy, and an average salary of $42,872 pa in the city will make for a good work/life balance.
Rome, Italy
A bit of an anomaly for a European capital, your money will stretch further if you choose to buy in Rome. You can get a 2-3 bedroom villa or semi-detached house!
What are the Benefits of Living There?
- Lifestyle: siestas & nightlife
- Shopping
- History, architecture, culture
- Friendly, family culture
The average salary of $37,518 pa isn’t too bad comparatively either!
Marrakech, Morocco
You’ll get plenty of space in Marrakech for $250k. Expect a 4-5 bedroom home for the money.
What are the Benefits of Living There?
- Outdoor living
- Plenty of history and culture
- Good food
- Great shopping
The average salary is a little lower than some at $24,523 pa.
Johannesburg, South Africa
$250k will also go quite far on the property market in Johannesburg. You’ll get a 3-5 bedroom house for the money.
What are the Benefits of Living There?
- History, architecture, culture
- Good transport
- Good medical care
- Culturally diverse
The average salary is $16,600 pa so on the lower side, but certainly not the lowest on the list.
Ottawa, Canada
Once you head to Ottowa things are looking really good if you have $250k burning a hole in your pocket. You can get yourself a 3 -4 bedroom detached family home for the price. Nice!
What are the Benefits of Living There?
- Economic stability
- Plenty of green space
- Low crime rate
- Little traffic congestion
It sounds like there’s plenty to love about Ottowa. The average salary of $40,567 pa measures up to many of the European capitals too.
Moscow, Russia
In Moscow, you can get a 4-5 bedroom house for the same price as half a flat in Paris!
What are the Benefits of Living There:
- Culture & history
- Great public transport
- Lots to do
- Good medical care
The average salary is quite low at $22,445 pa, so the difference is all relative.
Islamabad, Pakistan
Now we’re really talking. You can live like a king in Islamabad with a 5-10 bed triple storey house!
What are the Benefits of Living There?
- Low cost of living
- Good, varied food
- Fantastic shopping
However, at just $6,521 pa, average earnings are the lowest we’ve seen.
So, that’s what type of property $250k can buy you in 19 iconic capital cities. There’s so much to weigh up when buying a property that we’ve only just scratched the surface, but it’s incredible to see how the property you can buy varies across the globe. If you had a spare $250k, where would you buy?
Brought to you by internal and external doors specialist, Vivid Doors
